{"id":5222,"date":"2019-03-20T11:46:00","date_gmt":"2019-03-20T11:46:00","guid":{"rendered":"\/blog\/?p=5222"},"modified":"2024-12-31T16:56:55","modified_gmt":"2024-12-31T11:26:55","slug":"as-rates-fall-take-a-personal-loan-to-improve-your-credit-score-easily","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/personal-use-loan\/as-rates-fall-take-a-personal-loan-to-improve-your-credit-score-easily\/","title":{"rendered":"As Rates Fall, Take a Personal Loan to Improve your Credit Score Easily"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Importance of credit scores cannot be undermined for future borrowers.<\/p>\n\n\n\n<p>A credit score tells about your past credit behaviour. Have you been repaying all or some of your EMIs on time? Have defaulted on loans? Are you a serial loan taker? Do you take more unsecured loans than secured ones? How often you get into<a href=\"https:\/\/tata-blog.osian.dev\/tata-cards.html\"> credit card<\/a> debt? Your credit report and score answer all these questions.<\/p>\n\n\n\n<p>Having\na good credit score tells the lender that you are a low-risk borrower and\nhence, can be offered loans at lower interest rates. This can mean a lot of\nsavings. Even one percentage point reduction in a 5-year personal loan of Rs 20\nlac can savings of atleast Rs 1 lac in interest costs.<\/p>\n\n\n\n<p>So it does make sense to have a good <a href=\"https:\/\/tata-blog.osian.dev\/check-credit-score.html\">credit score<\/a> if you will need to borrow heavily in few years time.<\/p>\n\n\n\n<p>But\nhow to build it?<\/p>\n\n\n\n<p>A\nsimple way to improve your credit score is to take a small personal loan that\nyou can repay easily. Start repaying that loan regularly and do not miss\npayments for any reason. Slowly your credit score will increase. Given that\ncurrent personal loan rates are at multi-year lows, it\u2019s a great time to\nimplement this approach.<\/p>\n\n\n\n<p>It\nwill not cost you much but will save you several lacs after few years.<\/p>\n\n\n\n<p>A\ngood credit history of the applicant is most important factor for majority of\nlenders. Everyone wants to lend to a person who has a very low chance of\ndefaulting.<\/p>\n\n\n\n<p>So once that <a href=\"https:\/\/tata-blog.osian.dev\/personal-loan.html\" title=\"Personal Loan\">personal loan<\/a> is paid off and you have accessed your credit report to confirm the improvement of credit score, you can approach the lenders to take larger loans. <\/p>\n\n\n\n<p>A small effort on your part can go a long way in improving your credit score.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/personal-loans\/apply-now-personal-loan#!\">Apply Now<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A credit score tells about your past credit behaviour. Have you been repaying all or some of your EMIs on time?<\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/personal-loan\/as-rates-fall-take-a-personal-loan-to-improve-your-credit-score-easily\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-5222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-use-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>As Rates Fall, Take a Personal Loan to Improve your Credit Score Easily - TATA Capital Blog<\/title>\n<meta name=\"description\" content=\"Learn how personal loans can help improve your credit score. Find out the best times to apply and how to avoid common credit pitfalls to boost your financial health.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As Rates Fall, Take a Personal Loan to Improve your Credit Score Easily - TATA Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Learn how personal loans can help improve your credit score. Find out the best times to apply and how to avoid common credit pitfalls to boost your financial health.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/as-rates-fall-take-a-personal-loan-to-improve-your-credit-score-easily\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-20T11:46:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-31T11:26:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/take-a-personal-loan-to-improve-your-credit-score-easily.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"348\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/as-rates-fall-take-a-personal-loan-to-improve-your-credit-score-easily\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/as-rates-fall-take-a-personal-loan-to-improve-your-credit-score-easily\/\",\"name\":\"As Rates Fall, Take a Personal Loan to Improve your Credit Score Easily - TATA Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2019-03-20T11:46:00+00:00\",\"dateModified\":\"2024-12-31T11:26:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Learn how personal loans can help improve your credit score. 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